‘Bad bank’ boss new RBS chief operating officer

Mark Bailie, new chief operating officer of RBS

Royal Bank of Scotland has appointed Mark Bailie as its chief operating officer with “responsibility for operations, payments business, shared services, bankwide simplification and the controls across bankwide services.”

Bailie has been responsible for running Royal Bank’s “bad bank” and massive assets disposal.

He retains responsibility for concluding the run-down of Royal Bank’s non-core assets in the RBS “Capital Resolution” division.

Bailie returned to RBS in 2010 as “head of non-core solutions” where he led a number of key transactions such as the disposal of RBS Aviation Capital for $7.3 billion.

Bailie then worked on the “bad bank review” which led to the creation of RBS Capital Resolution (RCR) and his appointment as co-CEO of RCR.

In February 2015, Bailie was appointed CEO of Capital Resolution and then joined the executive committee of RBS.

By the end of 2015, RCR had successfully run down £34 billion of RBS’s “higher risk and capital intensive assets.”

Before re-joining RBS, Bailie was head of Barclays Capital’s principal investments unit, leading transactions in the UK, US and South Africa.

Bailie had joined BarCap from RBS Equity Finance where he led investments such as Canary Wharf and Towergate.

Bailie is a qualified chartered accountant and worked in PwC Corporate Finance and Cooper & Lybrand audit before RBS Equity Finance.

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.